Tiger International reaffirms early guess on Meesho, takes 1.9% of anchor allotment

Tiger International has taken 1.9% of the anchor allotment in Meesho’s upcoming preliminary public providing, reaffirming assist for one among its earliest India bets because the ecommerce firm heads to market this week. The New York–primarily based investor first backed Meesho in 2019, collaborating within the firm’s Sequence D spherical.

Meesho will open its IPO on Wednesday, December 3, and shut on Friday, December 5. The corporate has set a worth band of Rs 105–111 a share, valuing the enterprise at about Rs 50,096 crore on the high finish. At that worth, the providing will increase Rs 5,421.05 crore, together with a Rs 4,250-crore contemporary challenge and a considerably trimmed supply on the market.

Current shareholders will now promote 10.55 crore shares, down roughly 40% from the beforehand deliberate 17.57 crore shares, chopping OFS proceeds to round Rs 1,172 crore from Rs 1,950 crore. Meesho held the contemporary challenge measurement unchanged, signalling an effort to restrict secondary promoting and cut back near-term provide as soon as the shares record.

However the anchor spherical, sometimes a quiet prelude to Indian IPOs, has stirred discontent. A gaggle of institutional buyers has protested the sizeable allotment given to SBI Mutual Fund–managed schemes, in line with Bloomberg and Financial Occasions studies. Some buyers questioned whether or not the state-owned fund home acquired preferential remedy and raised issues about transparency within the allocation course of. Meesho and its bankers haven’t publicly responded.

Based mostly on the anchor allocation doc, SBI mutual funds dominated the anchor ebook with SBI Balanced Benefit Fund receiving the most important single allocation at 8.40%, adopted by SBI Targeted Fund at 7.58% and SBI Modern Alternatives Fund at 5.33%. Mixed with smaller allocations to different SBI schemes, together with SBI Consumption Alternatives Fund (2.05%) and SBI Resurgent India Alternatives Scheme (0.82%), the fund home’s whole allocation seems to have exceeded 20% of the anchor portion, which sparked the controversy over potential preferential remedy.

Different main anchor buyers embrace the Authorities of Singapore with 6.78%, Constancy Funds – India Focus Fund at 3.78%, and Tiger International at 1.97%. The Financial Authority of Singapore acquired 1.42%, whereas numerous BlackRock, Axis Mutual Fund, and Aditya Birla Solar Life schemes collectively secured substantial parts of the remaining allocation. All anchor buyers paid Rs 111 per share, with allocations finalized on December 2, 2025.

The unease prompted various marquee buyers, together with funds managed by Capital Group, Norges Financial institution, Aberdeen, Nomura, Nippon Life India, and ICICI Prudential, to withdraw from the anchor tranche, individuals aware of the matter instructed reporters. The pullback is notable in a market the place anchor participation is normally steady, and disagreements hardly ever spill into public view.

Bankers concerned within the transaction haven’t commented on the objections. Meesho has additionally not issued a press release, and the ultimate anchor record nonetheless options a number of world names, together with BlackRock, Constancy, GIC, ADIA, Baillie Gifford together with Tiger International.

The IPO follows customary regulatory norms: a minimum of 75% of shares are reserved for certified institutional patrons, no more than 15% for non-institutional buyers, and as much as 10% for retail patrons. Traders can bid for a minimal lot of 135 shares.

Meesho, recognized for its low-cost market mannequin and attraction amongst India’s value-focused customers, is pitching improved working metrics and a extra disciplined price construction because it seeks a profitable market debut. However the early friction within the anchor ebook.